The global shell & tube heat exchanger market (2015–2020) is estimated to reach USD 7.05 Billion by 2020 at a CAGR of 4.98%. The report includes analysis of the market by application, such as, chemicals, petrochemicals and oil & gas, HVAC & refrigeration, food & beverages, power generation, pulp & paper, and others; and by region, namely, North America, Europe, Asia-Pacific, and RoW. The base year considered for the study is 2014 while the forecast period is between 2015 and 2020. The market is driven by the surging energy demand and stringent environmental regulations.
Both, top-down and bottom-up approaches have been used to estimate and validate the size of the global market and to estimate the size of various other dependent submarkets in the overall shell & tube heat exchanger market. The research study involved the use of extensive secondary sources, directories, and databases such as Hoovers, Bloomberg, Chemical Weekly, Factiva, Tubular Exchanger Manufacturers Association, Inc. (TEMA), American Society of Mechanical Engineers (ASME), Heat Exchange Institute (HEI), Securities And Exchange Commission (SEC), American National Standards Institute (ANSI) and other government and private websites to identify and collect information useful for the technical, market-oriented, and commercial study of the shell & tube heat exchanger market.
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<strong>Key Target Audience:</strong>
Manufacturers of shell & tube heat exchangers
Traders, distributors, and suppliers of shell & tube heat exchangers
Regional manufacturers’ associations and general shell & tube heat exchangers associations
Government and regional agencies and research organizations
Investment research firms
<strong>Scope of the Report:</strong>
This research report categorizes the global shell & tube heat exchanger market on the basis of application, and region
<strong>On the basis of application:</strong>
Chemicals
Petrochemicals and oil & gas
HVAC & refrigeration
Food & beverages
Power generation
Pulp & paper
Others
<strong>On the basis of region:</strong>
North America
Europe
Asia-Pacific
RoW
The market is further analyzed for the key countries in each of these regions
<strong>Available Customizations:</strong>
With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
<strong>Regional Analysis:</strong>
Country-level analysis of the shell & tube heat exchanger market by application.
<strong>Company Information:</strong>
Detailed analysis and profiling of additional market players.
The global shell & tube heat exchanger market (2015–2020) is estimated to reach USD 7.05 Billion by 2020 at a CAGR of 4.98%. The market is driven by surging energy prices for and stringent environmental regulations driving demand for shell & tube heat exchangers. However, the increasing cost of raw materials used for shell & tube heat exchangers manufacturing is expected to inhibit the growth to some extent. The shell & tube heat exchangers are the devices that facilitate the exchange of heat between two fluids which are at different temperatures while keeping them from mixing with each other.
The shell & tube heat exchangers are used in various applications such as chemicals, petrochemicals and Oil & Gas, power generation, HVAC & refrigeration, food & beverages, pulp & paper, and others. These are the main applications considered in the report. In 2015, the chemicals application is estimated to account for the largest market share among all the applications, in terms of value, followed by petrochemicals and oil & gas, HVAC & refrigeration, and power generation application. The chemicals application is estimated to register the highest CAGR between 2015 and 2020 among all the applications considered.
Asia-Pacific, North America, Europe, and RoW are considered the main regions for shell & tube heat exchanger market in the report. Europe region is dominant in the market. The rising demand of shell & tube heat exchangers in this region is mainly driven by its strong demand in chemicals application. North American region is the second largest consumer and manufacturer of shell & tube heat exchangers globally. The market in this region is mainly driven by the growing opportunities from oil & gas industry and also from the fastest growing chemicals industry. The chemicals and petrochemicals and oil & gas applications are the top two applications contributing to the growing demand for shell & tube heat exchangers in North America . RoW is the fastest growing region among the all other regions and estimated to grow at CAGR of 7.36% between 2015 to 2020.
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Though the shell & tube heat exchanger market is growing at a significant growth rate, few factors hinder the growth of the market globally. The higher price of raw materials, shift of end-user market from developed countries to the developing countries, and rising cost of production are the major restraints toward the growth of the the shell market.
However, SPX Corporation (U.S.), API Heat Transfer Inc. (U.S.), Southern Heat Exchanger Corporation (U.S.) and so on, are the leading companies and with an excellent foothold in the U.S. These companies are expected to account for a significant market share in the coming future. Entering into related industries and targeting new markets will enable the shell & tube heat exchangers manufacturers to overcome the effects of volatile economy, leading to diversified business portfolio and increase the revenue. Other major manufacturers of shell & tube heat exchangers are Kelvion Holdings GmbH (Germany), Alfa Laval AB (Sweden), HRS Heat Exchangers (U.K.), Brask Inc. (U.S.), Koch Heat Transfer Company (U.S.), Standard Xchange (U.S.), and Manning and Lewis (U.S.).
Source: <a href="http://www.marketsandmarkets.com/Market-Reports/shell-tube-heat-exchangers-market-92257371.html" target="_blank">marketsandmarkets</a>
